{"id":1192,"date":"2016-04-19T18:24:14","date_gmt":"2016-04-19T18:24:14","guid":{"rendered":"http:\/\/maximumlending.com\/new\/?page_id=1192"},"modified":"2022-02-13T01:57:26","modified_gmt":"2022-02-13T01:57:26","slug":"fha-refinancing-and-fha-home-loans","status":"publish","type":"page","link":"https:\/\/maximumlending.com\/es\/fha-refinancing-and-fha-home-loans\/","title":{"rendered":"FHA Refinancing and FHA Home Loans"},"content":{"rendered":"
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FHA Refinancing and FHA Home Loans<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\n\t\t\t\t\t\t\n\t\t\t\t\t\tApplica Ahora<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t
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Federally insured home loans from the Federal Housing Administration (FHA) are especially appealing to home buyers because of their less rigorous lending standards and low down payment requirements. Loans must be made through FHA-approved lenders for home buyers to qualify for low down payments of just 3.5% of the purchase price*.<\/p>

Low down payments are one of the main advantages afforded to homeowners through FHA insured home loans. This is especially ideal for first-time homebuyers. Traditional loans typically require a down payment of 20% of the property\u2019s purchase price.<\/p>

Another advantage to FHA insured home loans is that borrowers with a FICO score of 580 may qualify for the low down payment advantage. If a borrower\u2019s score is lower than 580, they aren\u2019t necessarily excluded,<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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however the FHA requires that they produce a down payment of 10% of the purchase price.<\/p>

Benefits of an FHA Loan<\/h3>

The reason why an FHA loan is so appealing to borrowers is because they are able to take advantage of a certain set of benefits that may not be available to them through traditional financing methods. With an FHA loan, home buyers can enjoy benefits such as:<\/p>

Easy Qualifying:<\/strong>\u00a0Applicants with credit scores as low as 580 and\/or questionable credit history may qualify for financing through an FHA-approved lender.<\/p>

Competitive Interest Rates:<\/strong>\u00a0FHA loans have some of the lowest interest rates available to financially savvy home buyers.<\/p>

Low Out of Pocket Costs:<\/strong>\u00a0In addition to low interest rates, home buyers will enjoy benefiting from low closing costs, down payments and mortgage insurance.<\/p>

Bankruptcy\/Foreclosure:<\/strong>\u00a0If your credit history includes a bankruptcy or foreclosure, you\u2019re not immediately disqualified from obtaining an FHA loan.<\/p>

FHA Home Purchase and Refinancing Options<\/p>

Maximum Lending may be able to help you purchase your dream home, or make improvements to your existing one, even if you have less than stellar credit. We offer the following FHA purchase and refinancing options for you to choose from. Our expert loan officers we work with you one-on-one in securing the right loan for you.<\/p>